I post these videos every trading day, shortly after 8 AM CT. Check back here tomorrow for another update!
Contract rollover in Live Cattle has the October contract as the “front” or most actively traded month now. Screwworm continues to advance northward through Mexico, prompting the USDA to close the border to Livestock imports again. Recall that just 1 facility re-opened on Monday, before being shuttered again. Feeders closed right at trendline resistance, which may have offered a profit taking opportunity, but I think the news from the border will push prices higher. Lean Hogs have traded both sides of 107.000 the past six sessions. That could be signaling a technical base, but I’d look for test of the 50-day average. Grains are mostly weaker ahead of tomorrow’s USDA reports. Wheat is trying to rally and seems to have found good buying interest over the past 4 days.